Credit growth sees Tet spike

Credit activities have developed strongly in the first months of the new year, a positive sign for the economy’s recovery, independent market observers have said.

The economy’s credit growth as of February 24 rose by 0.96% compared with the figure recorded late last year, according a source from the Ministry of Planning and Investment.

Meanwhile, another source said the credit grew by 1% by February.

Analysts said these were surprising changes because the country showed negative credit growth in the first few months of previous years. For instance, credit growth decreased by 1.67% in February last year.